Committee gives do-pass to HB202, a pilot tax credit for secure gun storage

The House Commerce & Economic Development Committee voted to give House Bill 202 a do-pass recommendation after debate over funding limits and verification of use. Representative Armstrong moved to approve the bill and Chairman De la Cruz seconded; at roll call, 11 representatives recorded "yes" and no members recorded "no" or abstained on the committee floor.

HB202 would create a pilot refundable income tax credit of up to $750 for New Mexicans who purchase secure firearm storage devices, such as safes or lockboxes that require a key, combination or similar access control. The measure would cap tax credits at $1,000,000 per year on a first-come, first-served basis and would remain in effect for taxable years prior to Jan. 1, 2028. The bill directs the New Mexico Department of Public Safety to certify eligible purchases and makes any credit exceeding a taxpayer's liability fully refundable.

Sponsor Representative Fernandez described the bill as bipartisan and focused on safety: "Gun safety is not a partisan issue. It's a matter of public safety and personal responsibility." Fernandez said the credit is intended to "encourage firearm owners to take proactive steps in securing their firearms, helping to reduce accidents, theft, and unauthorized access," and called the measure a straightforward pilot so lawmakers can evaluate results before considering permanent adoption.

Committee members raised implementation and consumer-protection concerns. Representative Matthews warned that capped, first-come, first-served programs can create misleading expectations for purchasers, citing past problems with a solar-panel incentive: "There was a limit to how much the state was gonna provide," Matthews said, urging clear disclosure so buyers do not assume guaranteed payments. Representative Mason said the requirement for safe storage already exists in state law and called the credit a modest way to help people comply: "I've stand in full support of this."

Members discussed administrative details raised during questions. Sponsors acknowledged there is no reliable way to verify that a certified storage device will be used exclusively for firearms; the bill instead requires that the device meet secure-storage criteria (key, combination or biometric access) and relies on Department of Public Safety certification. The credit would be administered as a refundable tax credit through Taxation and Revenue, not a point-of-sale rebate, a detail the sponsor said was intended to increase uptake among lower-income taxpayers.

The committee approved a do-pass recommendation; sponsors indicated amendments could be offered later in the tax committee. The bill will next proceed in the legislative process for further committee consideration.